The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.

  Bloomberg Tesco Plc’s share of its home market grew for the first time in five years, providing further evidence that Chief Executive Officer Dave Lewis has gotten the U.K.’s biggest grocer back on track. Tesco’s sales in the 12 weeks to Oct. 9 rose 1.3 percent, according to researcher Kantar Worldpanel. The Welwyn Garden City, England-based retailer was the ...

  Bloomberg British Airways Chief Executive Officer Alex Cruz threw his weight behind the construction of a third runway at London’s Heathrow airport and said the carrier is continuing to develop expansion plans even as it wrestles with the fallout from the UK’s vote to quit the European Union. With the UK government poised to decide on the location of ...

  Bloomberg Kenya Airways pilots have called off a planned strike at the airline partly owned by Air France-KLM after talks between union officials and government representatives, according to a spokeswoman. The Kenya Airline Pilots Association, or KALPA, intended to go on strike from October 18 to demand the resignation of Chief Executive Officer Mbuvi Ngunze and Chairman Dennis Awori. ...

  Bloomberg Customers of Southwest Airlines Co., JetBlue Airways Corp. and Virgin America Inc. can resume online flight bookings after technical difficulties with Sabre Corp. computer systems prevented reservations from being made on their websites. “The technical issue that impacted some of our airline and travel agent customers has been resolved and our partners and subscribers are reporting that systems ...

  Bloomberg Burberry Group Plc shares fell the most in a year after the British trench coat maker reported declines in its Asian business and worsening results at its wholesale unit, offsetting a Brexit-inspired boost in tourist spending in the UK. The stock declined as much as 10 percent in London, the biggest intraday drop since Oct. 15 of last ...

  Shanghai / Agencies China’s two-week money-market rate climbed the most in almost two years as the central bank drained funds from the financial system and a weakening yuan reduced the possibility of monetary easing. The 14-day repurchase rate, a gauge of interbank funding availability, surged 52 basis points, the most since December 2014, to a two-week high of 3.03 ...

  Bloomberg Britain’s banks face a ban on restrictive contract clauses and misuse of league tables in pitches to clients, in an attempt by the UK’s financial regulator to shake-up competition in investment and corporate banking. In a final report published by the UK Financial Conduct Authority on Tuesday, the agency said improvements must be made by banks in primary ...

  Bloomberg Goldman Sachs Group Inc., once the most profitable firm on Wall Street, reported a 47 percent increase in third-quarter earnings as revenue from bond trading surpassed analysts’ predictions. Net income rose to $2.09 billion, or $4.88 a share, from $1.43 billion, or $2.90, a year earlier, the New York-based company said. Chief Executive Officer Lloyd Blankfein, 62, has ...

  Bloomberg BlackRock Inc., the world’s largest money manager, said third-quarter profit rose 3.8 percent as the firm cut costs while assets under management increased. Net income increased to $875 million, or $5.26 a share, from $843 million, or $5, a year earlier, according to a statement on Tuesday. Adjusted earnings of $5.14 a share beat the $4.98 average estimate ...

  Bloomberg Chinese central bank Deputy Governor Fan Yifei talked up the importance of asset-management firms created to clean up bad loans at a briefing on Sunday, saying that they played a key role in reducing corporate leverage. Speaking in Beijing at the launch of a restructured China Orient Asset Management, a bad-loan manager backed by the Finance Ministry and ...